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Executive Summary

The property was built in 1961 and recently underwent a significant renovation in 2022. Exterior improvements include new roofs, new stucco, new
railings, new waterproofing of all decks, new double pane windows and security cameras throughout common areas and street. Mechanical improvements include
100% replacement of plumbing, both waste and supply from meters, electrical from meters, all underground gas lines from meters to buildings, fire alarm system to 3
story building (alarm only) and low voltage wiring from street, including coax, telephone and fiber. Interior improvements include new appliances, quartz countertops,
new solid wood shaker cabinetry, recessed lighting, ceiling fans and high-end flooring. The on-site laundry room has also been updated with new machines with smart
phone payment capabilities.

Data Room Click Here to Access

Property Facts

Price $16,700,000
Price Per Unit $477,143
Sale Type Investment
Cap Rate 4.21%
Sale Conditions
1031 Exchange
  • Build to Suit
  • Redevelopment Project
No. Units 35
Property Type Multifamily
Property Subtype Apartment
Apartment Style Garden
Building Class C
Lot Size 0.46 AC
Building Size 21,050 SF
Average Occupancy 100%
No. Stories 2
Year Built/Renovated 1961/2022
Parking Ratio 0.09/1,000 SF
Zoning C-1, San Diego

Amenities

Unit Amenities

  • Balcony
  • Cable Ready
  • Disposal
  • Heating
  • Kitchen
  • Refrigerator
  • Oven
  • Range
  • Tub/Shower

Site Amenities

  • 24 Hour Access
  • Controlled Access
  • Laundry Facilities
  • Walk-Up
  • Smoke Detector

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
1+1 34 - 530 - 620
3+2 1 - 1,500
Moderately walkable
60/100
Exceptionally drivable
100/100
Limited public transit
30/100
Moderately bikeable
70/100

Property Taxes

Property Taxes

Parcel Number
530-763-01
Land Assessment
$2,832,972
Improvements Assessment
$2,317,885
Total Assessment
$5,150,857
  • Listing ID: 39661197

  • Date on Market: 3/4/2026

  • Last Updated:

  • Address: 2777 Nimitz Blvd, San Diego, CA 92106

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